Commodities Daily Forecast – July 5, 2018

Colin First
Commodities Technical Analysis

Gold

The gold prices drifted lower during the yesterday’s session as the market was very thin and lagging participants. The market is expected to continue very noisy and will require strong upside momentum to break above. If the current momentum persists, the market will eventually break down towards the $1200 level. …Read More

Silver

The silver market was slightly volatile, initially trying to move higher but failed to get significant momentum. The $16 level is acting as a floor of this market and if it able to break above the $16.15 level, then it can reach towards the $16.50 level. In an alternate scenario, if it breaks below $16 level, then it will reach towards the $15.80 level and then $15.50 level. …Read More

WTI Crude Oil

The crude oil prices traded sideways during the yesterday’s session with slight negative pressure, as $75 level offered resistance and also market was lacking liquidity. The market from here is expected to remain slightly under pressure as it has rallied very steep in the recent sessions. A break above $75 level will help the market to reach towards the $77.50 level. …Read More

Natural Gas

The natural gas prices initially tried to rally trying to break above the $2.89 level but found significant resistance and fell towards the $2.85 level which is offering support for quite some time. If the market breaks below the $2.85 level, then it will be negative and will eventually reach towards the $2.80 level and $2.70 level. …Read More

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